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Fed Standoff, CBDC Ban & DeFi Yields: Crypto Briefing | Jul 28-29
Audio is available on Spreaker — see link below.
Bitcoin holds at $60K as the Fed's July 28-29 meeting and a key inflation print set the tone for crypto markets. Plus: the CBDC ban is now law, Circle wins a bank charter, and DeFi yields quietly stabilize.
Audio is available on Spreaker — see link below.
Bitcoin is sitting at sixty thousand dollars, and the market is waiting on a single decision. The Federal Reserve meets July twenty-eighth and twenty-ninth, and right now that outcome is doing more to shape Bitcoin's direction than anything happening on-chain.
On the ETF side, spot Bitcoin ETF outflows remain a negative indicator. The important distinction here is between mechanical redemptions and genuine demand exit.
The geopolitical layer complicates this further. The US ended its ceasefire with Iran, and Strait of Hormuz tanker traffic has dropped from roughly thirty-two vessels per day to around four.
Away from macro, two regulatory developments landed this week and both point in the same direction. The twenty-first Century ROAD to Housing Act is now law, blocking the Federal Reserve from issuing a central bank digital currency before January first, twenty thirty-one.
On the regulatory advocacy side, the Blockchain Association filed a formal response to a CFTC request for information on July ninth, submitting eleven specific reform proposals. The filing covers tokenized collateral, stablecoin rules, DeFi guidance, and market structures designed for twenty-four-seven blockchain trading.
In DeFi lending, yields have stabilized. Aave is paying around four percent on USDC.
Two things to watch from here. The mid-July inflation print is the first real test.
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